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Starting Amount
$
After
years
Dividend yield
%
Dividends reinvested
$
Ambac Financial Group, Inc.
Type
Public
Traded as NASDAQ: AMBC (common stock) and AMBCW (common stock purchase warrants)
Industry Financial services
Founded New York City, U.S. (1971)
Headquarters New York City, U.S.
Revenue Increase US$3.91 Billion (FY 2009)
Operating income
Increase US$725 Million (FY 2009)
Net income
Decrease US$-14.6 Million (FY 2009)
Total assets Increase US$18.9 Billion (FY 2009)
Total equity Increase US$-2.29 Billion (FY 2009)
Number of employees
367
Website www.ambac.com

The Ambac Financial Group, Inc., generally known as Ambac (originally the American Municipal Bond Assurance Corporation), is an American holding company. Its subsidiaries provide financial guarantee products such as bond insurance and other financial services to clients in both the public and private sectors around the world. Its common stock and common stock purchase warrants are listed on the Nasdaq stock market under the symbols AMBC and AMBCW respectively. Ambac is regulated by the insurance commission of Wisconsin. Through its financial services subsidiaries, the company provides investment agreements, interest rate swaps, investment advisory and cash management services, primarily to states, municipalities and their authorities. It has its headquarters in Lower Manhattan, New York City.

Ambac and other bond guarantors such as MBIA were hit hard by the 2007 subprime mortgage financial crisis and on January 18, 2008, its Fitch credit rating was lowered from AAA (the highest) to AA when its plans to raise two billion dollars in new capital failed. Moody's and S&P, however, chose to affirm Ambac's AAA with their agencies after it succeeded in raising $1.5 billion in new capital in March 2008. In early 2008, the spectre of the major bond guarantors failing to be able to pay off insurance claims on a trillion dollars of securities backed by sub-prime mortgages and other securitized debt led to attempts to shore them up with infusions of capital. On June 19, 2008 Moody's downgraded Ambac's credit rating three notches to Aa3.

Ambac's ratings continued to decline during 2008–2010. Moody's Investors Service lowered the rating of the senior unsecured debt of Ambac Financial Group Inc. (Ambac Financial) to C from Ca and placed the Caa2 insurance financial strength ratings (IFSR) of Ambac Assurance Corporation (AAC) on review for possible upgrade on 3/26/2010. On March 25, 2010, Standard & Poor's Ratings Services revised its counterparty credit, financial strength and financial enhancement ratings on Ambac Assurance Corp. (Ambac) to 'R' from 'CC'. An 'R' rating is a non-investment grade rating. On June 8, 2010 Ambac announced that it would likely seek a pre-packaged bankruptcy as it was unable to pay dividends from its bond insurance unit to the holding company. Since that time Ambac has dropped appreciably in share price to approximately 0.50 per share as of the end of August 2010.

Ambac missed an interest payment on its debt on November 1, 2010 and filed for chapter 11 bankruptcy protection on November 8, 2010.

Ambac exited Chapter 11 on May 1, 2013, issuing 45 million new common shares and approximately 5 million new warrants to holders of allowed claims. Nader Tavakoli, who later became Chief Executive Officer, was on Ambac’s Board of Directors during the time of the registration statement.

After serving as interim President and CEO, and then Executive Chairman in 2015, the Board formally appointed Tavakoli to the position of President and CEO in January 2016. Tavakoli helped lead a turnaround during his tenure that included "substantial progress" in areas such as "risk and loss analytics, operational efficiency, asset management, shareholder communication, and loss management, including our major loss recovery cases."

Tavakoli was succeeded by current CEO Claude LeBlanc in 2017, who said upon assuming the role that "I look forward to working with Ambac's Board, talented management team, dedicated employees and primary regulator to continue executing the company's strategies to optimize assets and reduce liabilities, while maintaining a clear focus on risk and regulatory matters."

Investment goal date:
Dividends reinvested
Ambac Financial Group, Inc. AMBC report Q2 2017
Period
Date
Adjusted Actuals EPS
GAAP EPS
Q4 2017
2018-02-26
--
--
Q3 2017
2017-11-08
--
--
Q2 2017
2017-08-09
1.5400
0.1600
Q1 2017
2017-05-10
-2.0100
-2.7700
Q4 2016
2017-02-28
-0.1100
-2.0900
Q3 2016
2016-11-03
3.2300
2.2200
Q2 2016
2016-08-09
2.5400
1.2900
Q1 2016
2016-05-10
4.8200
0.2100
Q4 2015
2016-02-18
10.6400
8.5600
Q3 2015
2015-11-09
3.7700
-8.6600
There is presents forecasts or rating agencies and recommendation for investors about this ticker
Funds
Fund Name
Ticker shares
Alden Global Capital LLC
1303450
BlackRock Fund Advisors
981687
BlackRock Inc.
2132335
BlackRock Institutional Trust Company, N.A.
954632
Centerbridge Partners, L.P.
822641
CREDIT SUISSE AG/
632955
DIMENSIONAL FUND ADVISORS LP
2571088
EJF Capital LLC
1261376
FMR LLC
2240260
GOLDMAN SACHS GROUP INC
1862436
Raging Capital Management, LLC
1827147
Robeco Institutional Asset Management B.V.
643960
Sessa Capital IM, L.P.
872793
STATE STREET CORP
868395
Vanguard Group, Inc
1901037
Major Shareholders
Name Relationship
Total Shares
Holding stocks
THEOBALD THOMAS C
0.0200% (6849)
AMBC /
CALLEN MICHAEL A
0.1200% (55132)
AMBC / IBCA /
CONSIDINE JILL M
0.1300% (57645)
AMBC / IPG /
BIENSTOCK GREGG L
0.0900% (38939)
AMBC /
DOYLE KEVIN J
0.1000% (47165)
AMBC /
DEROSA PAUL R
0.1700% (78488)
AMBC / IBCA /
WALLACE HENRY D G
0.0100% (2524)
AMBC / DBD / LEA /
PRIEUR C JAMES
0.0300% (15000)
AMBC /
NADER TAVAKOLI
0.5700% (254742)
AMBC / MX /
RENFIELD MILLER DOUGLAS C
0.2600% (119219)
AMBC /
SHOBACK ROBERT G
0.1600% (73721)
AMBC /
Leonard Sean T
0.1600% (74091)
AMBC /
Herzog David L
0.0300% (12820)
AIG / AMBC / MET /
Wallis David W
0.0100% (3251)
AMBC /
LeBlanc Claude
0.1100% (47500)
AMBC /
Stevens Timothy J
0.0200% (9606)
AMBC /
Eisman Robert Bryan
0.0200% (7269)
AMBC /
Trick David
0.0400% (19130)
AMBC /
Ksenak Stephen Michael
0.0200% (9547)
AMBC /
Stein Jeffrey Scott
0.0200% (7000)
AMBC / DYN / WLB /
REILLY MICHAEL FRANCIS
0.0100% (4426)
AMBC /
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